Brazilian meat giant JBS profit plunges 88% in first half of 2026

JBS, one of the world's largest meat processing companies based in Brazil, announced a significant drop in its net profit for the first half of 2026. The company reported earnings of $118 million, an 88% decrease compared to the $1.028 billion earned during the same period last year.

The decline was particularly sharp in the second quarter, during which JBS incurred a net loss of $102 million. This contrasts sharply with a profit of $528 million recorded in the second quarter of 2025. JBS CEO Gilberto Tomazoni attributed the year-on-year comparison's profitability impact to record-high numbers achieved in the previous year. He also cited factors such as payments to competition authorities and the acquisition of new companies as contributing to the weaker second-quarter results.

Despite the reduced profitability, JBS saw an increase in its revenue. The company's turnover for the first six months of 2026 rose to $45.5 billion, up from $40.5 billion in the corresponding period of 2025. JBS's U.S. operations, its primary market, led the group's sales, followed by its Brazilian brands like Seara.

The company's adjusted EBITDA, a measure of operating profit, fell by 21.9% to $2.563 billion for the semester. Concurrently, JBS's gross debt increased to $22.65 billion at the end of the semester, compared to $19.49 billion at the close of the same period in 2025. The company's shares are traded on both the São Paulo and New York stock exchanges.